to Poorna Pal's Pages at the
Glendale Community College

Busad-101: Sample Test 1

Updated on 05/05/2015

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Thanks for visiting my pages at the Glendale Community College web site. You can learn here about the Business Administration and Oceanography classes that I teach here, and my other professional interests (e.g.,  Financial Economics, Resource Economics, Physical Geology, Environmental Geology etc.). These pages, and the links therein, will also give you information about globalization, outsourcing, rational exhuberance, earthquakes, particularly the seismicity in Southern California, volcanism, plate tectonism, El Nino, global climate change, atmospheric and ocean circulation, energy and other earth resources, and the related environmental issues.

with your questions

 
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True/False Propositions
Each question below is either TRUE or FALSE
 

On this
page:

 

 

True or False

Multiple Choice

Short Notes
 

The survival of private enterprise system requires “cutthroat” competition.
 

Businesses in a private enterprise system have the ethical responsibility to deal with their customers fairly and in a manner that is not harmful to them.
 

The gross domestic product of a country for any given year is the sum of all goods and services produced in that country in that year.
 

A capitalistic or private enterprise system allows individuals and businesses to pursue their interests without any governmental restrictions or regulations.
 

America enjoys an unfavorable balance of trade and an unfavorable balance of payment with the rest of the world.
 

Cooperatives have collective ownership and are therefore the same as any typical business enterprise whose stocks are publicly traded.

 

 

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Multiple-Choice Questions
Each question-item below is a contextually relevant 'TRUE/FALSE' proposition.
 
 
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Amezon.com is a
B2B business
  C2C business
  B2C business
 
 
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A not-for-profit organization is a business-like ...
 

organization that is designed to generate losses.

undertaking with focus on providing the target services, and generating the revenues in order to be able to do so, without having to earn profits.

enterprise that focuses on ethically providing the social services
 
 
bullet Which of these businesses can be identified as franchises?
Microsoft
  McDonalds
  UPS
 
 
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Looking at the world population data tabulated alongside, could we argue that, compared to the 15-65 years old " working population", ...
 
 

Europe has a larger proportion of the 
 

 

 elderly (>65 years olds) than the world average?
 

Africa has a larger proportion of the elderly (>65 years old) than the world average?
 

Africa has a larger proportion of the "non-working population" (i.e., those under <15 and >65 years old) than the world average?
 
 
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What does Okun's law, illustrated alongside, say as the most likely effect of our current economic slow-down?
 
 

The U.S. GDP (Gross Domestic Product) will drop because that is what economic slow-down really means.
 

The usually negative U.S. balance of trade with the rest of the world will drop because we will be importing less.
 

The U.S. unemployment rate will increase.

 

The U.S. unemployment rate that rose 

 

 

from 5.7% in July 2008 to 6.1 percent in August will continue this upward trend.

 

 

 

 

Short notes
  
 Write 50-75 words answers, with sketches and illustrations, as and when appropriate.
 
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Identify and describe the four basic inputs that makeup the factors of production. Give an example of each factor of production that an auto manufacturer might use.
 
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Explain why investors and financial community are concerned with business ethics and social responsibility.
 
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What is the difference between absolute advantage and comparative advantage? Give an example of each?
 

What does this graph, taken from Scot Shane's recent book "Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By" (Yale University Press, 2008), tell us about small business ventures?  What possible reasons can account for any pattern that you notice here? Discuss.

 

 

 

 

Home |  My Book | Physical Geol: Geol-101, Geol-111 | Environmental Geol: Geol-102, Geol-112  |  Oceanography: Ocean-115, Ocean-116   | Business Administration-101  

This site was last updated on 05/05/15

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